Credit cards versus stablecoins is one of the less-discussed competitive battles ahead, but it’s one where traditional finance faces the most coherent threat. The constant-dollar-value crypto tokens offer a route to cheap, fast payments — and in the US, that could make a real difference to consumers and retailers who still pay unusually high fees for card transactions compared with Europe.
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Stablecoins are coming for your rewards points
There are good profits in these frictional costs to card payments for US banks. As Jeff Bezos once said: “Your margin is my opportunity.”
